Which of the Following Statements About Materiality Is In

question 28

Multiple Choice

Which of the following statements about materiality is in?

• A)Materiality is a key auditing concept that is assessed during the risk assessment phase of every audit.
• B)Information is considered material if it has no impact on the decision-making process of financial report users.
• C)Materiality is used to guide audit testing and assess the validity of information contained in the financial report.
• D)The preliminary assessment of materiality guides audit planning and testing.

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Definitions:

ICD-10-CM General Note

General guidelines for coding and classifying diseases and health conditions in the International Classification of Diseases, 10th Revision, Clinical Modification.

Tabular Section

A structured format for presenting data or information in rows and columns, simplifying comparison and analysis.

Code Also

A coding instruction indicating that multiple codes may be required to fully describe a condition or circumstances.

ICD-10-CM General Note

Guiding instructions and information related to the use and application of the International Classification of Diseases, Tenth Revision, Clinical Modification.